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Sbi loan taken ang payment of loan journal entry |
| Answer» JOURNAL EntryExplanation:BANK A/c Dr. To SBI Loan A/c(Being SBI Loan TAKEN )since the loan has been taken thus we debit bank acct and credit loan acct.INT. on loan A/c Dr. To SBI Loan A/c (* if interest is payable ) To Cash/ Bank A/c (* if interest is paid)(Being interest payable or Interest paid)Profit & Loss A/c Dr. To Int. on loan (Being Interest on loan paid is TRANSFERRED to Profit & Loss A/c)Hope this helps you dear :)Mark as Brainliest dear | |